21 major banks including Goldman Sachs BofA plan to launch USD stablecoin in 2027

A consortium of 21 major financial institutions - including Goldman Sachs, Bank of America, and Citi - plans to establish a joint venture to issue a dollar-backed stablecoin, with commercial launch targeted for early 2027. The initiative signals traditional finance's continued push into tokenized assets, moving beyond earlier experimental phases into coordinated infrastructure deployment.

The venture will begin with a US dollar stablecoin before broadening its scope. A euro-denominated offering is planned as a follow-up, suggesting an intent to cover multiple G7 currencies and create a multi-asset tokenization platform operated by established banking players.

• 21 major banks including top-tier institutions are forming a single entity to co-issue a dollar stablecoin, centralizing what has been a fragmented retail stablecoin market.
• Launch is targeted for H1 2027, giving the consortium roughly two years to build regulatory compliance and infrastructure.
• The roadmap includes euro and other G7 currencies, indicating ambitions to become a multi-currency settlement layer rather than a single-use product.